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The market would progress at a CAGR of 26.8% from 2020 to 2030 and generate a revenue of $7,082.0 million in 2030

·2 min read

3D Printing Filaments Market Research Report: By Type (Plastics {Polylactic acid, Acrylonitrile butadiene styrene, Polyethylene terephthalate glycol, Acrylonitrile styrene acrylate}, Metals, Ceramics), Application (Food Additives, Pharmaceuticals, Agricultural Products, Personal Care Products, Plasticizers, Fuel Additives) - Global Industry Analysis and Demand Forecast to 2030

New York, Nov. 03, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "3D Printing Filaments Market Research Report: By Type, Application - Global Industry Analysis and Demand Forecast to 2030" - https://www.reportlinker.com/p05982479/?utm_source=GNW

In 2019, the global 3D printing filaments market attained a value of $693.1 million. As per the estimates of P&S Intelligence, a market research firm based in India, the market would progress at a CAGR of 26.8% from 2020 to 2030 and generate a revenue of $7,082.0 million in 2030. This sharp surge in the valuation of the market is credited to the growing adoption of 3D printing technology in the aerospace industry, which is itself exhibiting rapid expansion.

According to the International Air Transport Association (IATA), commercial airlines generated a total revenue of $876.0 billion in 2019, as compared to the $845.0 billion revenue witnessed in 2018. The rapid advancement of the aviation and aerospace industries is pushing up the requirement for new aircrafts. This is, in turn, fueling the manufacturing of aircrafts and aircraft components across the globe. The 3D printing technology is very effective for manufacturing these components.

This is because this technology utilizes filaments for producing aircraft components, which causes a huge reduction in the weights of these products. Moreover, these filaments improve the strength of aircraft components, make the manufacturing of customized designs and complex parts possible, and produce minimal wastage. Because of these factors, 3D printing filaments are increasingly being adopted in the aerospace industry. Besides this, the growing usage of these filaments in the automotive industry is also driving the progress of the market.

Because of the above-mentioned factor, the growth of the aviation sector is positively impacting the global demand for 3D printing filaments. Across the globe, the 3D printing filaments market is predicted to demonstrate the fastest growth in the Asia-Pacific (APAC) region in the upcoming years. This would be because of the surging manufacturing activities, especially in China, and the increasing government support regarding the usage of 3D printing technology in the region.
Read the full report: https://www.reportlinker.com/p05982479/?utm_source=GNW

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